The Government today announced the Government Land Sales (GLS) Programme for the second half of 2021 (2H2021), and the acceptance of an application from a developer to put up the White site at Marina View for sale by public tender.

2H2021 GLS Programme

The GLS Programme for 2H2021 comprises four Confirmed List sites and nine Reserve List sites. These sites can yield about 6,860 private residential units, 90,000 sqm gross floor area (GFA) of commercial space and 530 hotel rooms (see Appendix 1 [PDF, 42kb]).

The Confirmed List comprises four private residential sites [including one Executive Condominium (EC) site] which can yield about 2,000 private residential units (including 375 EC units). In addition, the Reserve List comprises six private residential sites (including one EC site), two White sites and one hotel site. These sites can yield about 4,860 private residential units (including 700 EC units), 90,000 sqm GFA of commercial space and 530 hotel rooms.

The Government will continue to monitor economic and property market conditions closely and adjust the supply of future GLS Programmes, as necessary.

Supply of Private Housing

The Government has carefully calibrated the supply of private housing in the 2H2021 GLS Programme, taking into account several factors.

The unsold inventory of private housing units has declined over the past year amidst strong demand. Nonetheless, even as the economy is recovering from the recession in 2020, there are continued uncertainties in the economic and labour market conditions due to the ongoing COVID-19 situation globally and locally. On balance, the Government has decided to moderately increase the supply of private housing on the Confirmed List to 2,000 units for the 2H2021 GLS Programme, up from 1,605 units for the 1H2021 GLS Programme. The supply on the Reserve List also gives developers a good selection of sites to initiate for development.

Supply of Commercial Space

The White site at Woodlands Avenue 2 for a mixed-use development will be carried over from the 1H2021 Reserve List to the 2H2021 Reserve List. This site will provide opportunity for developers to initiate the development of more office and retail space if there is demand.

Supply of Hotel Rooms

The 2H2021 Reserve List includes the site at River Valley Road, which is carried over from the 1H2021 Reserve List. This site will provide opportunity for developers to initiate additional supply of hotel rooms if there is demand.

White site at Marina View

The Marina View site (see Appendix 2 [PDF, 238kb]) was on the Reserve List of the 1H2021 GLS Programme (see Appendix 3 [PDF, 8kb]). This site can yield about 905 private residential units, 2,000 sqm GFA of commercial space and 540 hotel rooms. The Urban Redevelopment Authority (URA) received an application from a developer who has committed to submit a bid at a minimum price of $1,508,000,000 in the tender for the land parcel. As the minimum price committed by the developer is assessed to be acceptable to the Government, URA will release the site for sale by public tender on 28 June 2021.